The Port of Coos Bay was awarded by Business Oregon’s Infrastructure Finance Authority a loan of $600,000 to be used toward the purchase of a new gantry crane to serve the Charleston fishing fleet. The interest rate of the loan will be 3.57% for a maximum term of 25 years.
The existing boat lift gantry crane at the Charleston Boatyard has reached the end of its useful life, and is under-capacity to service the current and future needs of the area. This opportunity to purchase a new crane will improve the boat haul-out service, capacity, and safety to the Port’s home-ported and regional commercial and recreational fleets long into the future.
“The revenue that will be generated from the service of the new crane will cover the operational cost and the investment of purchasing it,” Hans Gundersen, Chief Financial and Administration Officer for the Port of Coos Bay explained. “It will satisfy the existing customer base and increase business opportunities for the region as a whole.” The next step for the Port will be to put an invitation out to bid for the prospective contractor.
For additional media information, please contact:
Brooke Walton, Director of Business Development & External Affairs, Port of Coos Bay
Phone: 541-267-7678 / E-mail: email@example.com